Lending business definition

Lending business means a person engaged in the business of making secured or unsecured loans of money, or extending credit, and (i) more than one-half of the person's gross income is earned from such activities and (ii) more than one-half of the person's total expenditures are incurred in support of such activities.
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Lending business means a person engaged in the business of making secured or unsecured loans of money, or extending credit, and
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Examples of Lending business in a sentence

  • In addition to revisions permitted under this Agreement on the basis of changing market or economic factors, Mortgage Lending commitments stated as units are subject to change based on changes to the Bank’s Mortgage Lending business strategy.

  • Mortgage Lending commitments are for originated loans on 1-4 family properties in Umpqua Bank’s CRA assessment areas and do not factor changes that may be made to the Umpqua Bank Mortgage Lending business strategy at or following consummation of the Merger.

  • By way of clarification and not limitation, the Bank must first receive revenues from the Market Place Lending business in excess of [****] in a given calendar year for the [****] of Pre-Tax Net Revenue to be payable.

  • It is anticipated that such bonus will be tied to the Pre-Tax Net Profit of the Market Place Lending business originated by Executive and his direct reports.

  • The adjusted pretax contribution margin goal is derived by starting with an unadjusted pretax contribution margin of 34.3% and subtracting the cost of equity applied to the equity capital maintained in SCM and the equity capital required by the Securities Lending business.

  • Lending business is a qualifying trade for the purposes of Business Relief.

  • At the end of 2001, SCM's equity capital was $66.9 million and the equity implied in the Securities Lending business was $7.5 million (i.e., loan balance of $602 million multiplied by an equity requirement of 1.25%).

  • Vendor shall maintain throughout the Term of the Agreement, and at all times thereafter during which Vendor has access to or is in possession of The Hartford Data, the approved controls, and shall not materially weaken the Information Security Control Environment without prior notification to The Hartford, provided, however, that the Agency Securities Lending business is made aware of such impending changes and has a commercially reasonable opportunity to notify The Hartford..